IRS Solar Tax Credit

The IRS will give you a tax credit based on 30% of the net cost of your solar installation (materials and labor). The net cost would be the amount you invested for your system, less any utility company rebates that you may have received.

Financial Benefits

For example: if you paid $30,000 for solar installation, the IRS will give you a 30% tax credit in the amount of $9,000 (30% of $30,000).

Simply download and complete Form 5695 from the IRS website and use it to provide the IRS with your solar installation costs and information. You DO NOT send them a copy of your receipt.

Stipulations

There are just a few stipulation:

You must owe taxes to benefit from the tax credit.

You MUST install solar by 12/31/2016 to take advantage of the 30% IRS tax credit.

Additional Information

Call the IRS at 800-829 option 1, then option 4. Ask the operator for the Energy and Tax Credit Area, and you will be transferred to a specialist.

Environmental Benefits

U.S. Environmental Protection Agency (EPA): “Electricity generation is currently the largest industrial source of air emissions in the United States. Fossil fuel-fired power plants are responsible for

40% of man-made carbon dioxide (CO2) emissions

23% of the nation's nitrogen oxide (NOX) emissions

These emissions contribute to the formation of smog, haze and are associated with a wide range of health problems. In addition, greenhouse gases emitted by fossil fuel-fired power plants increase the risk of climate change. In comparison, the emission from solar electricity generation is negligible as no fossil fuels are combusted to create electricity."